Robert deRose, a significant shareholder of Legacy Education Inc. (NASDAQ:LGCY), recently executed a purchase of 3,000 shares of the company's common stock. The transaction, dated January 13, 2025, was completed at a price of $7.55 per share, amounting to a total value of $22,650. According to InvestingPro data, the stock has shown remarkable momentum with a 94% gain over the past six months, while maintaining a modest P/E ratio of 10.3.
Following this acquisition, deRose's indirect ownership, through the Robert D. deRose & Susan deRose Family Trust, now stands at 1,092,974 shares. The trust, alongside Robert and Susan deRose as co-trustees, maintains a ten percent ownership stake in the company.
The transaction highlights the continued confidence of significant stakeholders in Legacy Education Inc., a company that operates within the educational services sector.
In other recent news, Legacy Education Inc. has made significant strides with its acquisition of Contra Costa Medical (TASE:PMCN) Career College, an institution based in Northern California. The $8 million deal is set to expand Legacy Education's portfolio with additional health programs and increase its campus presence in California. Northland Securities has initiated coverage of Legacy Education with an Outperform rating, indicating a positive outlook on the company's future performance. Additionally, Ladenburg Thalmann has assigned a new Buy rating to Legacy Education, setting a price target at $8.20.
Legacy Education also announced the pricing of its initial public offering (IPO) at $4 per share, aiming to offer 2.5 million shares. The IPO, led by Northland Securities, Inc. and Ladenburg Thalmann, is set to raise $10 million before underwriting discounts and offering expenses. These are among the recent developments for Legacy Education, highlighting its growth trajectory and strategic expansion within the educational sector, particularly in healthcare.
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